Englewood Cliffs-based ConnectOne Bancorp Inc., parent company of ConnectOne Bank, announced Thursday its net income of $2.6 million, or 5o cents per diluted share, for the first quarter of 2014.
According to the announcement, last year’s net income was $2.3 million, or 56 cents per diluted share.
Frank Sorrentino III, chairman and CEO of ConnectOne, said in a press release, “We are extremely pleased with our first quarter 2014 financial performance. During the quarter, the company’s loan portfolio grew by $93.5 million, reflecting a 32 percent annualized growth rate. Net income, excluding merger-related expenses, increased sequentially, by 15.3 percent over the fourth quarter of 2013.”
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